* Tiffany rises on 4th-qtr profit beat
* Adobe up on strong quarterly results
* Dow up 0.06 pct, S&P up 0.05 pct, Nasdaq down 0.03 pct
(Updates to open)
By Anya George Tharakan
March 17 U.S. stocks were little changed on
Friday as a slide in Amgen dragged down the healthcare sector,
offsetting gains in technology shares.
The S&P 500 healthcare sector was off 0.4 percent,
dragged down by a 6.3 percent drop in Amgen. Analysts
said data from a large study testing the impact of Amgen's
cholesterol drug on the heart was weaker than expected.
Amgen was also the biggest drag on the broader S&P 500 index
and the Nasdaq.
However, ten of the 11 major S&P 500 sectors were higher,
with the technology sector up 0.21 percent.
Adobe gave the biggest push to the sector, rising
6.2 percent after the Photoshop maker's quarterly results beat
At 9:41 a.m. ET (1341 GMT), the Dow Jones Industrial Average
was up 13.29 points, or 0.06 percent, at 20,947.84, the
S&P 500 was up 1.25 points, or 0.05 percent, at 2,382.63
and the Nasdaq Composite was down 1.58 points, or 0.03
percent, at 5,899.18.
"Today it appears as though we're going to have another day
like yesterday, where the market is looking for something
substantial to create the next move," said Andre Bakhos,
managing director at Janlyn Capital in Bernardsville, New
Much of the week's trading has been predicated on a widely
expected quarter-point interest rate hike that the Federal
Reserve delivered on Wednesday.
The main indexes are on track to mark slight gains since
Monday as markets rallied on the Fed's less
hawkish-than-expected rate hike outlook.
Investors are also keeping a close eye on the Group of 20
meeting in Germany, where financial leaders and central banks
discuss the world economy.
Tiffany's shares rose 3 percent to $92.73, after the
company posted a better-than-expected fourth-quarter profit,
boosted by strong demand for its high-end jewelry in Japan and
Advancing issues outnumbered decliners on the NYSE by 1,535
to 1,050. On the Nasdaq, 1,353 issues fell and 989 advanced.
The S&P 500 index showed 39 new 52-week highs and one new
low, while the Nasdaq recorded 64 new highs and 31 new lows.
(Reporting by Anya George Tharakan and Yashaswini Swamynathan
in Bengaluru; Editing by Anil D'Silva)